West Africa Mining and Energy Inc. will have a team in Cote d’ Ivoire in late December of 2019 to complete the installation of the mining equipment at the first gold mining site. The site is expected to initially employ about 50 local workers and to be operational in early 2020.
Our first site will be an alluvial mining site. Placer mining is the mining of stream bed (alluvial) deposits for minerals. This may be done by open-pit (also called open-cast mining) or by various surface excavating equipment or tunneling equipment. Placer mining is frequently used for precious metal deposits (particularly gold) and gemstones, both of which are often found in alluvial deposits—deposits of sand and gravel in modern or ancient stream beds, or occasionally glacial deposits. The metal or gemstones, having been moved by stream flow from an original source such as a vein, are typically only a minuscule portion of the total deposit. Since gems and heavy metals like gold are considerably denser than sand, they tend to accumulate at the base of placer deposits.
West Africa Mining and Energy Inc. intends to work with its local partners to expand to additional sites in early 2020 and continue expansion throughout the year as additional mining equipment is delivered and brought into production.
Per Ms. Xin Zhang, Director of International Business for West Africa Mining and Energy Inc. “West Africa is abundantly endowed with mineral resources, and many world-class deposits have been discovered there in recent years. The West Africa region is a key source of gold, iron ore, bauxite, diamonds, phosphate, uranium, and its mainly untapped mineral wealth provides exceptional greenfield mine development opportunities.”
Per an InvestingNews.com article, “When it comes to mining gold in Africa, the western side of the continent is a hotspot. It’s home to many explorers, as well as a slew of major companies focused on extracting the metal.”
Foreign companies invested billions of dollars in gold exploration activities over the past few years, resulting in West Africa having the biggest growth rate in the gold mining in the world.